K2 Intelligence Discusses Effect of FATF Concerns on Regulation

In “Lawyers a Weak Link in AML Enforcement, Report Says” (Law360, 1 Dec. 2016), K2 Intelligence’s Regulatory Compliance team discusses the Financial Action Task Force (FATF), an international standards-setting body focused on anti-money laundering and anti-terror financing issues. In connection with efforts made by the U.S. government to stop illicit money flows within the financial system in the coming years, the team notes that “while regulators will begin to make changes in their reporting based on FATF concerns, implementing these new regulations will be progressive and will likely take years.”